NIFTY 50 22,979.25 up stock 33.95 (0.15%)
NIFTY 100 23,404.10 up stock 72.70 (0.31%)
NIFTY 500 20,750.00 up stock 138.60 (0.67%)
NIFTY MIDCAP 50 14,189.25 up stock 192.50 (1.38%)
INDIA VIX 15.41 Down stock -0.26 (-1.65%)
NIFTY MIDCAP 150 18,652.15 up stock 276.30 (1.50%)
NIFTY SMALLCAP 50 7,487.15 up stock 141.15 (1.92%)
NIFTY BANK 49,462.30 up stock 375.00 (0.76%)
NIFTY AUTO 21,819.70 Down stock 0.80 (-%)
NIFTY FMCG 52,445.95 Down stock -34.55 (-0.07%)
NIFTY IT 41,295.80 Down stock -168.55 (-0.41%)
NIFTY MEDIA 1,499.30 up stock 26.65 (1.81%)
NIFTY METAL 8,356.80 up stock 101.20 (1.23%)
NIFTY PHARMA 20,762.75 Down stock -206.45 (-0.98%)
NIFTY PRIVATE BANK 24,708.50 up stock 207.90 (0.85%)
NIFTY REALTY 853.30 up stock 21.25 (2.55%)
NIFTY OIL & GAS 10,041.25 up stock 69.20 (0.69%)
NIFTY COMMODITIES 7,849.65 up stock 67.80 (0.87%)
NIFTY ENERGY 31,226.70 up stock 377.65 (1.22%)
LEADMINI 188 up stock 0.20 (0.11%)
ZINCMINI 261.25 up stock 0.25 (0.1%)
SILVERMIC 89730 up stock 72.00 (0.08%)
GOLDGUINEA 59188 up stock 50.00 (0.08%)
GOLDM 72900 up stock 28.00 (0.04%)
COTTONCNDY 56540 up stock 20.00 (0.04%)
SILVER 89675 up stock 29.00 (0.03%)
CRUDEOIL 6609 Down stock -237.00 (-3.46%)
NATURALGAS 177.5 Down stock -0.30 (-0.17%)
NATGASMINI 177.5 Down stock -0.30 (-0.17%)
MENTHAOIL 942.2 Down stock -1.20 (-0.13%)
ZINC 260.7 Down stock -0.25 (-0.1%)
ALUMINIUM 220.5 Down stock -0.20 (-0.09%)
LEAD 187 Down stock -0.10 (-0.05%)
NIFTY 50 22,979.25 up stock 33.95 (0.15%)
NIFTY 100 23,404.10 up stock 72.70 (0.31%)
NIFTY 500 20,750.00 up stock 138.60 (0.67%)
NIFTY MIDCAP 50 14,189.25 up stock 192.50 (1.38%)
INDIA VIX 15.41 Down stock -0.26 (-1.65%)
NIFTY MIDCAP 150 18,652.15 up stock 276.30 (1.50%)
NIFTY SMALLCAP 50 7,487.15 up stock 141.15 (1.92%)
NIFTY BANK 49,462.30 up stock 375.00 (0.76%)
NIFTY AUTO 21,819.70 Down stock 0.80 (-%)
NIFTY FMCG 52,445.95 Down stock -34.55 (-0.07%)
NIFTY IT 41,295.80 Down stock -168.55 (-0.41%)
NIFTY MEDIA 1,499.30 up stock 26.65 (1.81%)
NIFTY METAL 8,356.80 up stock 101.20 (1.23%)
NIFTY PHARMA 20,762.75 Down stock -206.45 (-0.98%)
NIFTY PRIVATE BANK 24,708.50 up stock 207.90 (0.85%)
NIFTY REALTY 853.30 up stock 21.25 (2.55%)
NIFTY OIL & GAS 10,041.25 up stock 69.20 (0.69%)
NIFTY COMMODITIES 7,849.65 up stock 67.80 (0.87%)
NIFTY ENERGY 31,226.70 up stock 377.65 (1.22%)
LEADMINI 188 up stock 0.20 (0.11%)
ZINCMINI 261.25 up stock 0.25 (0.1%)
SILVERMIC 89730 up stock 72.00 (0.08%)
GOLDGUINEA 59188 up stock 50.00 (0.08%)
GOLDM 72900 up stock 28.00 (0.04%)
COTTONCNDY 56540 up stock 20.00 (0.04%)
SILVER 89675 up stock 29.00 (0.03%)
CRUDEOIL 6609 Down stock -237.00 (-3.46%)
NATURALGAS 177.5 Down stock -0.30 (-0.17%)
NATGASMINI 177.5 Down stock -0.30 (-0.17%)
MENTHAOIL 942.2 Down stock -1.20 (-0.13%)
ZINC 260.7 Down stock -0.25 (-0.1%)
ALUMINIUM 220.5 Down stock -0.20 (-0.09%)
LEAD 187 Down stock -0.10 (-0.05%)

Updated 20:19 IST, January 28th 2025

Over One-Third Respondents Lose Money To Scams Via Real-Time Payments: Report

The report stated that 60 per cent of respondents reported exposure to messages from scammers, and 54 per cent said friends or family members had been scammed.

Reported by: Business Desk
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SBI Reward Points Scam
SBI Reward Points Scam | Image: Pixabay

Mumbai, Jan 28 (PTI) More than one-third of people surveyed have reported losing money to scams through real-time payments, according to a report.

Highlighting the growing threat of scams in India's real-time payments (RTP) ecosystem, 34 per cent of respondents reported paying for goods, services or investments that were never delivered, according to the report by global analytics software company FICO.

The report stated that 60 per cent of respondents reported exposure to messages from scammers, and 54 per cent said friends or family members had been scammed.

While fewer Indian consumers reported losses in 2024 compared to 2023, the percentage of high-value losses  those exceeding Rs 800,000 doubled from 2 per cent to 4 per cent, said Dattu Kompella, managing director in Asia for FICO.

While 56 per cent of losses were relatively small, under Rs 50,000, these amounts can still be devastating for many households, the report said.

Around 45 per cent of Indian consumers identified improved fraud detection systems as the most important action banks can take to protect them from scams.

RTP usage will continue to grow and diversify as more transactions happen among consumers, businesses and public sector entities, added Kompella.

FICO's survey was conducted in 2024 by an independent research company. Around 1,000 Indian adults were surveyed, along with approximately 11,000 other consumers across 14 countries. 

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Published 20:19 IST, January 28th 2025